BancorpSouth to issue
dividend of 22 cents
n TUPELO – BancorpSouth Inc. will pay a quarterly cash dividend of 22 cents per common share on July 1 to shareholders of record at the close of business as of June 15. The board of directors also voted to extend until April 30, 2011 the common stock repurchase program announced March 21, 2007 and started May 1, 2007.
New YorkDennis Seid 4/23/09
Stocks end higher
after shaky day
n NEW YORK – About halfway through first-quarter earnings reports, Wall Street still isn’t sure where the economy is headed.
Some companies reported strong earnings on Thursday including PNC Financial Services Group, which boosted other bank stocks including JPMorgan Chase amp& Co., Bank of America Corp. and Wells Fargo amp& Co. Poor results from other companies however, such as UPS Inc. and steelmaker Nucor Corp., signaled trouble.
The Dow rose 70.49, or 0.9 percent, to 7,957.06. The Standard amp& Poor’s 500 index rose 8.37, or 1 percent, to 851.92, and the Nasdaq composite index rose 6.09, or 0.4 percent, to 1,652.21.
GM confirms it will
idle some plants
n DETROIT – General Motors Corp. said Thursday it will temporarily close 13 assembly plants in the U.S. and Mexico – some for more than two months – as it tries to pare back its bloated inventory due to slumping sales.
The company said in a statement that the closures will begin in May. Shutdown weeks vary by factory, but some will be closed for nine or 10 weeks.
GM said the shutdowns will help control high dealer inventories and bring production in line with sales. The company plans to cut production by 190,000 vehicles.